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GePap
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of the Big Apple
Nov 2001 time: 23:33
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quote: Originally posted by Ogie Oglethorpe
The collective opinions of individuals is the proper course.
We're not talking a singular individual. We're talking the composite of an entire market. Kinna like Democracy. |
The "market" is, as was stated, simple a process to decide how resources should be allocated given a certain set of priorities. It is not magical, it has no morality. It is not like dmeocracy, which is a structure of governance built upon its own set oif assumptions.
The question is, what are the priorities. The market, to work "wisely", if that is possible, the people choosing must be well informed. badly informed consumers will make bad choices- they could do no better, their informartion is bad. That is the point of advertising, to infrom the consumer, and why the state must stop false advertising, becuase it warps the market. But false advertisement, or better yet, lack of information about what is actually best for people is a key problem of the market today: in many ways, people don't have a way to know how a choice will really affect them or anyone else.
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Ogie Oglethorpe
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Marietta, GA
Dec 1999 time: 05:33
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quote: Originally posted by GePap
The question is, what are the priorities. The market, to work "wisely", if that is possible, the people choosing must be well informed. badly informed consumers will make bad choices- they could do no better, their informartion is bad. That is the point of advertising, to infrom the consumer, and why the state must stop false advertising, becuase it warps the market. But false advertisement, or better yet, lack of information about what is actually best for people is a key problem of the market today: in many ways, people don't have a way to know how a choice will really affect them or anyone else. |
Now you get to a good point.
Prioritization based upon best known info. If one assumes that the plethora of information available is overwhelming and that choices are made are essentially blind or misinformed, what makes you think a smaller selcet group would have the wherewithal to make good decision. Ohh... I forgot they are the superuberhuman class right?
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